This epic account details the decades-long struggle for control over microchip technology, now recognized as the world's most critical resource. Microchips have become the new oil, essential for military, economic, and geopolitical power. Today, everything from missiles to smartphones relies on chips. Historically, the U.S. led in designing and manufacturing the fastest chips, but its dominance is waning due to rising competition from Taiwan, Korea, Europe, and especially China. Currently, China invests heavily in chip production, spending more on imports than on oil, aiming to catch up with the U.S. The stakes are high, as America's military superiority and economic prosperity hinge on its chip technology. Economic historian Chris Miller explores the semiconductor's pivotal role in modern life and how the U.S. achieved its dominance, leveraging chip technology for military applications. America's success in the Cold War and its military strength stem from its superior computing capabilities. However, China is advancing rapidly, modernizing its military alongside its chip ambitions. The U.S. has allowed critical aspects of chip production to slip away, leading to a global chip shortage and a new Cold War with a determined adversary. This illuminating narrative underscores the necessity of understanding chips to grasp the current political, economic, and technological landscape.
